Agriculture Secretary Francisco Tiu Laurel Jr. said the budget has been approved in principle by President Marcos, with possible funding sources already identified.
Tiu Laurel said he cannot yet disclose the funding source, but he emphasized that there are currently "several" options on the table.
"But for next year, we are almost sure that we can get that P5 billion buffer fund or fund to be able to use in case we have to trigger the price action," he said.
The agriculture chief emphasized that the buffer fund is critical in ensuring stable prices of goods in the market.
He said the mechanism has been legally existing since 1992 but has not been operationalized.
Denne historien er fra September 27, 2024-utgaven av The Philippine Star.
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Denne historien er fra September 27, 2024-utgaven av The Philippine Star.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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